February 09, 2005

I Wanna New Drug...Plan

Why should anyone be shocked that the estimate for the new Medicare prescription drug benefit has shot up to $720 billion? Government entitlements seem to have a way of skyrocketing in cost. When Medicare started in 1965 it cost taxpayers $1 billion a year. By 1971 it ballooned to $7.9 billion. The perception of free money does that.

Democrats are claiming the White House lied to them and the public. If so then the Congressional Budget Office also lied. But Democrats shouldn't gripe about cost when they "complained that the promised benefits would not go far enough."

Since the drugs haven't started flowing yet Congress and the President could get some common sense and end this expensive entitlement. I know, fat chance.

"New White House Estimate Lifts Drug Benefit Cost to $720 Billion"